Pre-Market Report: 07.08.2009

[B. Karthick]

Selling pressure likely to extend and little recover possible if
volume supports

Stocks on Dalal Street are likely to be flat with negative bias from
sharp losses that have occurred in the last hour of trade. Expect the
Sensex to trade plus or minus 100 points or nearly 1 percent for the
day.

Textile stocks might spurt on the news that the textile industry
would get Rs 2,546 crore as subsidy under the Technology Upgradation
Fund Scheme within three days, this is likely to help the capital-
starved industry. Arvind Mills and Alok textiles might see some demand
on this news.

Some Midcaps were on fire even in a falling market.Hindustan Oil
Exploration and Selan Exploration making some handy gains.GATI Ltd,
KIC Metaliks, Reliance Communications and Genus Powere are some of the
stocks to watch out in today's trade.


"USE EVERY RISE TO BOOK PROFITS"
"ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS"

Key Levels for Today Trade:

NIFTY INDEX Resistance : 4636 / 4680 / 4694 / 4711
NIFTY INDEX Support : 4564 / 4518 / 4469 / 4502 / 4424
Mean :4600

Key Numbers for NIFTY on upside 4636 / 4694
Key numbers for NIFTY on down side 4564 / 4518 / 4469

BANK NIFTY INDEX Resistance: 7541 / 7611 / 7681
BANK NIFTY INDEX Support : 7382 / 7280 / 7186 / 7092
Mean : 7461.5


Previous Close Box:

BSE Sensex 15514.03 -389.80
NSE Nifty 4585.50 -108.65
USD Rs.47.75
Oil Nymex $71.86

B.Karthick
Research Analyst